GO
Loading...

Enter multiple symbols separated by commas

LSE Reiterates Opposition to Nasdaq Bid

The London Stock Exchange reiterated its opposition to a hostile bid from Nasdaq Stock Market on Monday, noting that valuations of trading exchanges had risen since its U.S. rival launched its bid.

The London Stock Exchange (LSE) said it had sent a letter to shareholders which "draws specific attention to the fact that the December 2006 trading P/E (price/earnings) multiples for the major listed exchanges have risen by, on average, 10.5%. since Nasdaq announced its offer on Nov. 20."

"The board continues to recommend strongly that exchange shareholders reject Nasdaq's wholly inadequate offer and take no action in respect of their shareholdings," LSE chairman Chris Gibson-Smith said in a statement.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Piper Hoppe, 10, from Minnetonka, Minnesota, holds a sign at the doorway of River Bluff Dental in Bloomington, Minnesota, on July 29, 2015, during a protest against Cecil's killing.

    The U.S. Fish and Wildlife Service has been trying to find the man who shot a lion in Zimbabwe, but he is not responding.

  • Donald Trump

    From one real estate mogul about another: Don't underestimate Republican presidential candidate Donald Trump.

  • Rifle sight

    Hackers were able to exploit a sniper rifle's vulnerabilities and change the gun's target, according to Wired.

U.S. Video